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In recent years, China-U.S. relations have experienced twists and turns. Some observers fear that China and the United States may repeat the historical pattern of major-power rivalry known as the "Thucydides Trap."

Yet, Chinese President Xi Jinping has rejected this notion: "There is no such thing as a 'Thucydides Trap' in the world. But repeated strategic miscalculations between major countries could create one for themselves."

Avoiding such miscalculations, therefore, has become a critical task for China and the United States, which requires both sides to engage in candid dialogue on several key issues.

Foremost is the Taiwan question. President Xi has repeatedly and unequivocally conveyed China's fundamental stance to the U.S. side. In the Feb. 4 phone conversation with U.S. President Donald Trump, Xi once again stressed that the Taiwan question is the most important and sensitive issue in China-U.S. relations, urging the U.S. side to handle arms sales to Taiwan with utmost prudence.

Trade is another critical issue. In the face of unilateral U.S. tariff offensives, China, under Xi's leadership, has taken resolute countermeasures.

At the same time, Beijing has kept channels of engagement open. Xi has dispatched economic and trade teams that have held six rounds of talks with the U.S. side, seeking to narrow differences step by step while expanding common ground. Currently, trade ties between the two countries remain roughly steady. The two sides will hold a new round of trade talks in South Korea from May 12 to 13.

Chinese President Xi Jinping delivers a speech at Welcome Dinner by Friendly Organizations in the United States, in San Francisco, the United States, Nov. 15, 2023. (Xinhua/Yao Dawei)

During their Busan meeting, Xi underscored the broader perspective needed to manage such frictions. "Both sides should take a broader and longer-term view," Xi told Trump, "focusing on the lasting benefits of cooperation instead of falling into a vicious cycle of retaliation." Trump described Xi as a great leader and a firm negotiator.

How, then, does Xi envision the direction of bilateral ties leading into the future? In a speech delivered in San Francisco in 2023, he posed what he described as the number-one question: "Are we adversaries, or partners?"

"If one sees the other side as a primary competitor, the most consequential geopolitical challenge and a pacing threat," he warned, "it will only lead to misinformed policy making, misguided actions, and unwanted results."

Xi also stressed that China has no intention of challenging or unseating the United States. "China never bets against the United States," he said. "Likewise, the United States should not bet against China."

Drawing on the experience of China-U.S. relations, Xi has outlined three principles -- mutual respect, peaceful coexistence and win-win cooperation -- as the right path forward for the two countries.